Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.027%

Price spread now: Injective against Variational Omni−6.274%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 6.274% cheaper against Variational Omni than usual: you would sell low and buy high (−$627 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AAVE	146.13	0.0100	pay 0.0100% / 8h	34m 51s	$3.8M	$1.4M	—
Short	Injective AAVE/USDC PERP	136.96	0.0033	get 0.0004% / 1h	34m 51s	$422	$51K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Variational OmnibpFee InjectivebpOrdersPrice spread, now −6.274%Rate

Funding earned: −$14
Price spread: −6.274% → 0.000%: −$627.41
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$641.43
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Injective: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Variational Omni RFQ quote, 4 min ago	3.09 bp	doesn't fit	12.5 bp −$125	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

AAVE on 42 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit AAVE_USDC-PERPETUAL	−0.0092%	1h	146.09	−0.026%	$255K	$394K	50x	as long as short
SoDEX AAVE-USD	−0.0066%	1h	146.05	−0.054%	$5K	$298K	10x	as long as short
Phoenix AAVE	−0.0027%	1h	146.03	−0.067%	$5K	$99K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	146.14	+0.005%	$104K	$5K	10x	as long as short
01 Exchange AAVEUSD	0.0000%	1h	146.22	+0.063%	$11K	$2K	5x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	146.09	−0.026%	$85K	$1.5M	3.4x	as long as short
Kraken Futures PF_AAVEUSD	+0.0002%	1h	146.17	+0.028%	$3.5M	$2.1M	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	146.18	+0.034%	$71K	—	150x	as long as short
Injective AAVE/USDC PERPshort	+0.0033%	1h	136.96	−6.274%	$422	$51K	12x
MEXC AAVE_USDT	+0.0040%	8h	146.13	+0.001%	$30.5M	$25.8M	200x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AAVEUSDT	+0.0040%	8h	145.99	−0.095%	$66.5M	$186.1M	75x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	146.13	+0.003%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0052%	8h	146.05	−0.054%	$18K	$12K	10x	as long as short
OKX AAVE-USDT-SWAP	+0.0073%	8h	146.01	−0.081%	$18.0M	$67.7M	50x	as long as short
Gate AAVE_USDT	+0.0075%	8h	146.03	−0.067%	$7.9M	$15.9M	75x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	146.10	−0.016%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	146.29	+0.112%	$4.7M	$1.6M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	146.02	−0.074%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	146.03	−0.071%	$803K	$442K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	146.26	+0.090%	$80.7M	$34.6M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	146.17	+0.029%	$1.4M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	146.09	−0.025%	$333K	$504K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	146.01	−0.081%	$62.3M	$66.0M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	146.17	+0.029%	$51K	$273K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	145.88	−0.170%	$61K	$3K	10x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	146.02	−0.074%	$10.0M	$8.6M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	146.09	−0.026%	$30.4M	$18.3M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	146.03	−0.067%	—	$44.0M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	146.24	+0.077%	$359K	$737K	10x	as long as short
Variational Omni AAVElong	+0.0100%	8h	146.13	long leg	$3.8M	$1.4M	—
edgeX AAVEUSDC	+0.0100%	4h	145.68	−0.306%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	145.69	−0.299%	$461K	$3.8M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	145.66	−0.320%	$135K	$229K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	146.23	+0.070%	$128K	$456K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	146.07	−0.038%	$2K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	146.45	+0.223%	$700K	$5.0M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	146.11	−0.012%	$4.1M	$3.8M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	146.13	−0.002%	$935K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0106%	1h	146.22	+0.060%	$186K	$246K	10x	as long as short
BloFin AAVE-USDT	+0.0160%	8h	146.13	+0.001%	$3.5M	$4.1M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0267% / S −0.0438%	1h	146.22	+0.061%	$126K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0280%	1h	146.23	+0.070%	$789K	$3.0M	50x	as long as short